In the oil and gas industry, any unplanned breakdown that stops the operations in progress can cost the companies millions of dollars. Being able to predict machinery failures and perform a scheduled maintenance ahead of time, won’t only increase the life of the equipment but will also reduce the sudden breakdowns saving the industry a lot of money. To add on that, even the maintenance costs will be reduced since unnecessary ones will not take place anymore. This study talks about all the steps done from real data collection, data cleaning and processing as well as the model generation for the failure prediction of some components of the drilling rig.